Today’s Action:
Benchmark indices closed below support level. Nifty, -1.0%, Sensex, -0.8%, Model Portfolio, -1.9%; MSI Ind 47, -1.6%.
Daily Market Review:
India’s benchmark indices failed to capitalize on the positive start it had on Monday and closed in the red, tracking weakness in global markets. While the Nifty closed below 10,700 level, the Sensex was down 300 points. Continue reading “Daily Big Picture – Nifty Closed Below 10,700 Mark: Yes Bank Among the Top-Losers”
Current Market Status
A majority of the Nifty 50 companies have reported their september quarter earnings. A healthy double-digit average growth has been posted, hinting at a revival. The relatively benign movement of Crude Oil prices and the Rupee also contributed to the Nifty sustaining the 10650 level during week ended Novemeber 16. The Nifty and the Sensex were up 0.92% and 0.85%, respectively. Nifty Midcap and Smallcap on the contrary fell 0.55% and 1.23%. According to MarketSmith India’s methodology, at the end of the week, Nifty Reality, Bank, Financial Services, Energy, and Auto are in a Confirmed Uptrend, whereas Pharma, IT, Metal, and FMCG are in a Rally Attempt. For the week, Nifty PSU Bank (+2.5%) and Nifty Financial services (+2.4%) were among top gainers whereas Nifty Pharma (-3.6%) and Nifty Metal (-2.3%) were the top losers. The YTD returns for the Nifty and the Sensex are 1.7% and 3.8%, respectively. Continue reading “Special Article – Market Condition and How to Approach the Markets this Week?”
Today’s Action:
Benchmark indices ended on a positive note. Nifty, 0.8%, Sensex, 0.9%, Model Portfolio, +1.6%; MSI Ind 47, +0.1%.
Daily Market Review:
Benchmark indices opened with a small gap up today but rose gradually with strength toward the end of session to deliver good positive gains. Continue reading “Daily Big Picture – Nifty Rises with Strong Volume to Retake 50- and 200-DMA”
Industry Overview
India is the second-largest producer of sugar, with an annual production of 32.5 MT in MY 2017-18 (October-September). The industry supports about 5 crore sugarcane farmers (42% of total farming population) across India, and therefore carries high political importance as well. As of MY 2016-17, there are 493 factories in operation with a total sugar production capacity of 34 MT – the major production is from the states of Uttar Pradesh, Maharashtra, and Karnataka. Continue reading “Impact of Export Incentive on Sugar Industry”
Jet Airways continues its rally for the third straight week, rallying 32.4% during the week on above-average volume. The news of Tata group showing interest to take over the firm has fueled the rally. The stock has given stellar return of 89% in the past seven weeks.
